中国大学MOOC微观经济学

301The situation described in the book as Smart for One, Dumb for All occurs when:

302Suppose the local slaughterhouse gives off an unpleasant stench The price of meat would then be _ because not all of the _ are accounted for in the marketplace

303Suppose that the production of oranges reduces global warming The equilibrium price of oranges is _ because not all of the _ are accounted for in the marketplace

304Which of the following is NOT a condition for maximizing total economic surplus in a particular market?

305Everyone in the neighborhood has been complaining about the deteriorating condition of the park, but nobody has cleaned it up Why not?

306The No Cash on the Table Principle asserts that:

307Which of the following directly follows from the No Cash on the Table Principle?

308According to the equilibrium principle:

309In Cuba, a bureaucratic committee makes the production decisions for the country’s firms and factories Therefore, Cuba is an example of a:

310A good example of central planning at work in the US would be:

311The entire group of buyers and sellers of a particular good or service makes up:

312Suppose you bought three tickets to a concert in advance at the University ticket window At the last minute one friend cancelled, so you could use only two of those tickets You scalped, or sold, the third ticket just outside the entrance to the concert

313Suppose you camped out in front of an electronics store to be one of the 200 lucky people able to purchase the latest gaming system You bought the system for $350 Two weeks later you see that the same system can be sold on e-Bay for $600, so you sell yo

314In order to understand how the price of a good is determined in the free market, one must account for the desires of:

315Buyers and sellers of a particular good comprise the:

316In a market, the demanders are the _, and the suppliers are the _

317Holding all other relevant factors constant, consumers will purchase more of a good as the price falls This statement reflects the behavior underlying:

318The demand curve illustrates the fact that consumers:

319Which of the following is NOT true of a demand curve?

320A demand curve is _ sloping because _

321As coffee becomes more expensive, Joe starts drinking tea, and therefore quantity demanded for coffee decreases This is called:

322You can spend $5 for lunch and you would like to have two double cheeseburgers When you get to the restaurant, you find out the price for double cheeseburger has increased from $250 to $299 You decide to have just one double cheeseburger for lunch Th

323The quantity of Revlon nail polish demanded by Jen decreased after the price of Revlon nail polish increased Jen decides to find a cheaper brand of nail polish This is called a(n):

324When the price of an item increases, buyers tend to purchase less of that item:

325The buyer’s reservation price of a particular good or service is the:

326Shelly purchases a leather purse for $400 One can infer that:

327Gertie saw a pair of jeans that she was willing to buy for $35 The price tag, though, said they were $2999 Therefore:

328One reason for the _ slope of the demand curve is that as prices fall _

329When a slice of pizza at the student union sold for $2, Moe did not purchase any When the price fell to $175, Moe purchased a slice each day for lunch Moe’s reservation price for a slice of pizza must be:

330Sellers tend to offer _ for sale as price increases, and so the supply curve is _ sloping

331The supply curve illustrates that firms:

332As the price of a good rises:

333Supply curves are generally _ sloping because _

334Last summer, real estate prices in your town soared You started noticing more For Sale signs in your neighbors’ yards You conclude that:

335Jessica’s marginal cost for producing a pitcher of lemonade is $025 Therefore, $025 can also be called her:

336Suppose that the market price for hot dogs sold by street vendors has just risen from $450 to $5, and that Curly has now begun operating a hot dog cart We can assume that:

337A seller’s reservation price is generally equal to:

338A market comprised of a downward-sloping demand curve that intersects an upward-sloping supply curve is said to be stable because:

339Which of the following is NOT a characteristic of a market in equilibrium?

340A market in disequilibrium would feature:

341The equilibrium price and quantity of any good or service is established by:

342A shortage occurs when:

343Whenever the quantity demanded is not equal to the quantity supplied, the quantity that is actually sold in the market is:

344Almost every holiday season at least one gift idea achieves fad status When that happens, prices tend to increase dramatically Why?

345If the market for sport utility vehicles has excess supply, then one can say that:

346Refer to the figure above The equilibrium price and quantity for this market are:

347Refer to the figure above At a price of $9, the market will experience _ in the amount of _ units

348Refer to the figure above At a price of $3, the market will experience _ in the amount of _ units

349Refer to the figure above If the price is $4 today, and if there are no other changes in this market, one would expect the price in the future to be:

350You notice that your grocery store always has day-old bakery products at a reduced price Why might that be?

351Why does your grocery store sell day-old bakery goods but not day-old canned goods?

352When the price of a good is below its equilibrium value:

353In a free market, if the price of a good is below the equilibrium price, then；Asuppliers, dissatisfied with growing inventories, will lower the price

354In a free market, if the price of a good is above the equilibrium price, then；Asuppliers, dissatisfied with growing inventories, will raise the price

355Which of following is NOT true of an equilibrium price?

356When a market is not in equilibrium:

357You have noticed that there is a persistent shortage of teachers in an inner-city school district in your state Based on this observation, you suspect that:

358Suppose you notice that more and more people are driving gas-guzzling cars Since you drive an economy car, their increased demand for gas:

359Refer to the figure above When this market is in equilibrium:

360Refer to the figure above At a price of $20:

361Refer to the figure above Suppose all the sellers in this market started out charging a price of $45 per unit What is the most likely result?

362Refer to the figure above Now suppose that the government imposes a price ceiling of $40 What is the most likely result?

363The tendency of markets to automatically gravitate toward equilibrium is an application of which core principle?

364Which of the following is NOT a characteristic of governmental rent controls?

365Minimum wage laws are an example of:

366Suppose one knows two facts: first, the market for prescription drugs experiences chronic shortages and second, government sets the price for prescription drugs One can conclude that the:

367A regulated maximum price that is above the equilibrium price:

368In a market where government has set the maximum price below the equilibrium price, one might expect:

369According to the textbook, government price controls fail because:

370A movement along a demand curve from one price-quantity combination to another is called:

371As the price of personal computers continues to fall, demand increases This headline is inaccurate because:

372An increase in the quantity demanded of tea occurs whenever:

373If the demand for a good decreases as income decreases, it is a(n):

374In the market for coffee, for many consumers:

375In the market for office workers:

376What might cause a demand function to shift to the right?

377If the demand for steak increases as income increases, this means that steak is a(n):

378If the price of computers increases and the demand for monitors decreases as a result, then:

379Whether or not a good can be classified as a complement depends on whether；Ano substitutes exist

380A decrease in the price of pizza will cause a(n):

381If the demand for computers shifts to the right as consumers’ incomes rise, computers are

382As consumers’ incomes increase, the demand for ground beef decreases Ground beef is called a(n):

383As consumers’ incomes decrease, the demand curve for bologna sandwiches shifts to the right Therefore bologna sandwiches are:

384Suppose the price of gasoline increases and that sport utility vehicles get poor gas mileage compared to other available cars One would expect:

385Suppose one could either rent a car or take a train to travel to Chicago from Washington, DC If the price of train tickets increases:

386Suppose that the price of doughnuts decreases and that doughnut-holes are a by-product of producing doughnuts One would expect:

387For two goods X and Y to be classified as substitutes, it must be the case that:

388At the beginning of the fall semester, college towns experience large increases in their populations, causing a(n):

389Suppose one observes that when the price of peanut butter increases, the demand for jelly increases One must conclude that:

390Refer to the figure above Demand for coffee last Monday is shown in bold and labeled D(Monday) On Tuesday, the news featured a story about a storm that wiped out the entire coffee crop in Brazil On Wednesday:

391Refer to the figure above Demand for coffee last Monday is shown in bold and labeled D(Monday) On Tuesday, the news featured a story explaining that the coffee crop has been contaminated with disease-causing bacteria The following week:

392Suppose that a disease that affects people who consume beef has been discovered in the United States One likely result is:

393Assume consumers eat either rice or pasta for dinner every night If the price of rice increases, in the pasta market one would expect to see:

394Suppose that two recent studies conclude that increased fiber in the diet does not reduce the risk of developing colon cancer as was previously thought The likely result will be that the:

395Refer to the figure above Moving from demand curve D1 to demand curve D2 illustrates a(n):

396Refer to the figure above Moving from demand curve D2 to demand curve D1 could be caused by a(n):

397Refer to the figure above Moving from demand curve D1 to demand curve D2 could be caused by a(n):

398A decrease in the demand for bananas with no concurrent change in the supply of bananas will result in a __ equilibrium price and a(n equilibrium quantity

399As the price of cookies increases, firms that produce cookies will:

400Which of the following would cause an increase in quantity supplied of wheat?

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